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Howard company paid salaries of $42,000. $25,000 of it was taxable for social security, FUTA, state unemployment (3.5%). Income taxes withheld were $4500. Howard's employees
Howard company paid salaries of $42,000. $25,000 of it was taxable for social security, FUTA,
state unemployment (3.5%). Income taxes withheld were $4500.
Howard's employees put $2000 in their 401(k) plans and Howard matched it.
A) Write the payroll journal entry.
B) Write the payroll tax and benefits journal entry.
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